Pool Of Funds Research Articles

A Managed Volatility Investment Strategy for Pooled Annuity Products

Pooled annuity products, where the participants share systematic and idiosyncratic mortality risks as well as investment returns and risk, provide an attractive and effective alternative to traditional guaranteed life annuity products. While longevity risk sharing in pooled annuities has received recent attention, incorporating investment risk beyond fixed interest returns is relatively unexplored. Incorporating equity investments has the potential to increase expected annuity payments at the expense of higher variability. We propose and assess a strategy for incorporating equity investments along with managed-volatility for pooled annuity funds. We show how the managed volatility strategy improves investment performance, while reducing pooled annuity income volatility and downside risk, as well as an investment strategy that reduces exposure to investment risk over time. We quantify the impact of pool size when equity investments are included, showing how these products are viable with relatively small pool sizes.

Public financing for primary health care is the key to universal health coverage and strengthening health security

Public financing for primary health care is the key to universal health coverage and strengthening health security

Commitment and innovation on the road to people-centred PHC financing

Commitment and innovation on the road to people-centred PHC financing

Aktywność społeczna w kształtowaniu budżetu obywatelskiego

In civil society, self-government as a form of social organisation occupies one of the central positions. The condition for the implementation of the development mission of local government is the participation of citizens and their co-responsibility for the shape of local social life. Recently, the participatory budget has become one of the most popular forms of participation. Its aim is to directly involve residents in the decision-making process regarding the choice of the scope of public tasks within the designated pool of funds and to take over part of the responsibility. The aim of the presented analysis is to show the dynamics of citizen involvement in consultations on spending part of the city budget on local tasks falling within the competence of local government – The civic budget. The adopted research hypothesis assumes that the participatory budget is the most popular form of consultation because in its formula it gives residents a sense of agency and subjectivity in expressing one’s opinions and preferences and also gives tangible results of social engagement visible in the short term. The empirical basis for the analysis are reports on the implementation of the participatory budget of the city of Radom from the beginning of its creation, and literature on the subject. A participatory budget is an excellent tool for education about self-government – it is an element of a specific philosophy of functioning of self-government – as a community of authorities and residents of a given territorial unit, cooperating for its development. The example of the city of Radom indicates that the participatory budget supports, complements, and often replaces or increases the efficiency of public administration. The analyses carried out can be an indication when improving the implementation of the budget of Mazovia.

Enhancing China–Africa Health Cooperation for a Healthier and Safer World: A Multilateral Perspective

China has made remarkable contributions to Africa’s health development through building public health facilities and systems, building basic medical service capacity, and improving human resources for medical services. Despite these achievements, China still faces challenges in improving project effectiveness, increasing local engagement, expanding the scope of health cooperation, and enhancing interaction with the larger international aid community. Besides, the differences in culture, communication style, history, and institution limit China and Africa on “soft” issues, as does the absence of a coherent and coordinated approach among Chinese stakeholders in health cooperation. One solution is to increase multilateral engagement in China–Africa health cooperation. Compared with other countries, China’s engagement in Africa’s health development is primarily bilateral, and its roles in the structure, management, and decision-making of the health-related multilateral organizations are also limited. Building on their acknowledged strengths, such as knowledge bases and centers, health and medical expertise, and past best practices, extensive connections with local communities, multilateral organizations should play a more prominent role in strengthening China–Africa health cooperation. To increase engagement with multilateral organizations and improve effectiveness and sustainability of China–Africa health cooperation, Beijing should conduct more field research and analysis to better understand the local development needs, ensure appropriate, targeted, and contextualized health cooperation, and jointly establish a pooled fund to guarantee stable, sustained, and predictable commitments from each side.

Editorial: will the future be sustainable or just 'greenwash' printed in organic ink on sustainably-sourced glossy brochures?

Editorial:will the future be sustainable or just 'greenwash' printed in organic ink on sustainably-sourced glossy brochures? Daniel Blackburn, Editor and Declan Owens, Guest Editor The COP26 talks were a failure: a 'parade of inaction, false solutions and greenwash from rich governments and corporations'. But the event was not meaningless and heralded also a 'historic moment of growth in power and solidarity for the climate justice movement' This will ultimately play a critical role to overcome what remains of the suspicion of 'middle class' environmentalists by a working class cynical that their jobs and lives are being 'recklessly' pushed aside. De-industrialisation is not a new idea for many in Europe and North America, and their experience of it the first time around was not encouraging. And yet history is repeating, as Adrian Kane and Yvonne O'Callaghan observe small towns across the Irish midlands that are beginning 'to resemble the North of England's bleak post-industrial wastelands', as a local fossil fuel industry there is run down. There have been 'expensive government-led initiatives' to mitigate job losses but our contributors report the case of a nation-wide company displacing a local established business after receiving a grant from the local funding pool, seemingly the opposite of what would be intended. Huw Beynon and Ray Hudson remind us of just how bleak the impact was when the State failed to make any or sufficient provision to deal with the aftermath of the coal industry closures in the UK. Meanwhile, there are still many complaining about China and India's reliance on coal, though increasing recognition that over time it is the West that has contributed massively more to climate emissions. How can unions representing workers in these industries find agreement with climate activists? Sindhu Menon finds India's mining union leaders concerned for the future of workers with non-transferable skills who live on land that is degraded for farming and where water is scarce. Mine closure here means job losses, 'starvation', and 'disaster' for the coal belt economy. Georgia Montague-Nelson explains that livestock production also contributes 'over one-third of all human caused greenhouse gas emissions'. A set of trade union proposals for the sector developed by the IUF and GLI demonstrates a real potential for engagement with climate activists around shared ideas about decentralisation and redistribution and reducing the size of supply chains and the role of giant global corporations in livestock and agriculture. David Bacon shares with us a small selection of his photography collection documenting the lives and working conditions of fruit-pickers left their former homes in Mexico to avoid already 'devastating' climate impacts there, but are now facing increasingly aggressive heat under a changing climate in their adopted US. Sean McManus from the IAFF represents another group of workers who face the burning heat head-on. McManus describes how Canada's notoriously cold climate is now increasingly juxtaposed with extraordinary peaks of heat during summer that can surpass even the highest ever temperatures recorded in the Nevada desert. Firefighters are dealing with novel climate effects at first hand, including more ferocious wildfires but also torrential rains and flooding. Every time they respond to such a disaster, firefighters 'see very plainly whether there are adequate front line resources or not'. Returning to industrial and energy questions, Diana Junquera Curiel investigates crucial industrial and technological aspects of a sustainable future, looking at battery and solar production, but tracing concerns through these new industries' supply chains leads us straight to the Xinjiang region of China, where forced labour allegations are raised with regard to its solar panel production facilities. As if to underscore trade union concerns that industrial workers might ultimately be short¬changed by the transition to a sustainable future, trade unionists in the UK were stunned weeks ago when a major ferry company informed its staff by recorded video message (with no prior notice) that their jobs had ended and they would be escorted from their vessels. Professor Keith Ewing finds 'no shortage of international standards', but a lack of actually legally enforceable rights. It is the massive double standard between the glossy proclamation and the lack of any protection in...

Home and Community-Based Services Between the USA and Taiwan

Home and community-based services (HCBS) are critical to support our rapidly growing and aging population around the world. This paper takes initial steps to compare HCBS between the USA and Taiwan from four perspectives: funding sources, service types, challenges, and recommendations. Peer-reviewed articles and governmental reports (both English and Chinese) in the U.S.A. and Taiwan were reviewed. Analyses showed both countries mainly use tax dollars to fund HCBS. Although both countries have similar service categories, USA lack a clear organization scheme whereas Taiwan has detailed and clear services provisions. Workforce quality and shortage were common challenges for both countries, especially from culture perceptive. Recommendations for USA include expanded funding pool, better coordination between agencies, and rebalancing HCBS and institutional care with limited budget. Recommendations for Taiwan include expanded service coverage and quality to reduce disparity in rural areas, and providing more support for informal caregivers.

Recommendations to improve insurance coverage for physiotherapy services in Iran: a multi criteria decision-making approach

BackgroundHigh toll of traffic-related injuries, climate change, natural disasters, population aging, as well as chronic diseases have all made considerable demands on receiving physiotherapy services in Iran. Nevertheless, there is an assortment of complications facing utilization of such services, particularly poor insurance coverage. Therefore, the present study investigated and identified gaps in insurance coverage in order to inform future policy reforms and the design of a more comprehensive and universal benefits package for physiotherapy services in Iran.MethodsThis project was carried out in Iran, using a mix-methods (viz. qualitative-quantitative) approach. Within the first phase, a qualitative study was completed to find policy recommendations. Such recommendations were then prioritized through the Analytical Hierarchy Process (AHP), in the second phase, based on effectiveness, acceptability, cost, fairness, feasibility, and time.ResultsWithin the first phase, a total number of 30 semi-structured interviews with health policy-makers, health insurers, faculty members, rehabilitation experts, and physiotherapists were completed. Several policy recommendations were also proposed by the study participants. Following the second phase, prioritized recommendations were provided to promote stewardship (e.g., informing policy-makers about physiotherapy services), collection of funds (e.g., placing value-added taxes on luxury goods and services), pooling of funds (e.g., moving allocated resources towards insurance (viz. third-party) mechanism), purchasing (e.g., using strategic purchasing), and benefit package (e.g., considering preventive interventions) as the main components of insurance coverage.ConclusionThe study findings provided a favorable ground to improve insurance coverage for physiotherapy services in Iran. As well, decision- and policy-makers can place these recommendations on the agenda in the health sector to protect population health status, especially that of groups with disabilities.

New Medicare Technology Add-On Payment Could Be Used As A Market Support Mechanism To Accelerate Antibiotic Innovation.

Despite growing antibiotic resistance, the clinical drug development pipeline for antibiotics has been sparse largely because of an unsustainable business model. We illustrate three models to accelerate antibiotic development, using Medicare new technology add-on payments as a market support mechanism. The first two models subsidize drug development for Medicare beneficiaries, and the third model applies a payment for every patient with a resistant infection to essentially create a funding pool. We found that the reimbursement required to sustain research and development would range from $637 to $121,365, depending on the payment model and the incidence of the resistant infection in question. With a $300million public research subsidy, the payment for an antibiotic would drop to between $273 and $10,396 per course. Our market support model could increase the likelihood of attracting private investment for antibiotic development.

Integrated Health and Social Care in England: Ten Years On.

Introduction:As part of major policy reforms begun in 2010, England introduced a wave of initiatives to encourage more integrated care between health and social care. These built on previous attempts which sought to achieve similar objectives through a focus on better partnership working. This article provides an overview and critical commentary on integrated care policy in England from 2010–2020 based on reviews by regulators, parliamentary committees and the national audit office.Overview of Policy:Integrated care became a priority through the work of the Future Forum, a group of leading stakeholders established due to concerns about greater competition in public health care. This led to a public statement of shared commitment to integrated care by national health and social care bodies. Early mechanisms included a pooled fund to achieve nationally set objectives, the creation of local authority led partnership boards, and high profile innovation programmes. Later in the 2010’s, new health led partnerships became more dominant vehicles to achieve integrated care at regional level.Impact of Policy:Despite progress within a few local areas, and reduction in delayed discharges from hospital the overall picture from national reviews was that expected improvements were not achieved. Emergency admissions to hospital continued to grow, patients within primary care reported being less involved in their care, and health inequalities worsened. The initial response to COVID-19 was health-centric contributing to outbreaks in care homes and inadequate supplies of protective personal equipment. The ability of leaders to look beyond their organisations’ interests was reported as vital for local progress. National government performance frameworks discouraged system based working and chronic underfunding of social care led to major capacity and workforce challenges.Conclusion:The experience of England suggests that greatest progress is made when integrated care focusses on tangible issues and when there is a clear understanding of how success will be measured. Even with considerable investment and intent progress should be expected to be slow and difficult. Layering of numerous policy initiatives provides confusion and can distract from the important work of relationship building. And ultimately, integrated care cannot by itself address major inadequacies in the underlying resources and structural inequalities.

BANK LENDING BEHAVIOR: EVIDENCE FROM MALAYSIAN DUAL BANKING SYSTEM

This study investigates the internal and external factors that influence bank lending behaviors in Malaysian’s dual banking system. The final regression of 24 commercial and 15 Islamic banks using the pooled ordinary least square (POLS) method revealed that the size of the bank proxies by the logarithm of total assets as the most significant factor influencing bank lending behavior in Malaysia from 2010 to 2018. This suggests that larger banks are more diversified and have a larger pool of funds to be loaned out. Because banks rely on deposits to issue loans, the deposits received by the bank have a substantial impact on bank lending. The greater the number of deposits obtained; the more bank lending activities will occur. The data also demonstrated that commercial and Islamic bank lending behavior in Malaysia is strongly connected with deposit volume (DEPO), GDP, and bank size (SIZE).

Participatory Budgets of Polish Major Cities During Covid-19

Purpose: This article aims to determine the resilience of solutions adopted in Poland in the scope of participatory budgeting regarding the crisis in the economy. Design/Methodology/Approach: Multiple case studies as the research tool was used. It enabled a multi-faceted analysis of the functioning of participatory budgets (PB). Firstly - a review of the literature on the subject of PBS, secondly - an analysis of the legal sources regarding the PBs in Poland; thirdly - an analysis of information available on the websites and in the source, documents published by individual main regional 17 cities in Poland, associated with the implementation of PB procedures in 2019 -2020. Findings: Data obtained from individual city offices concerning the distribution of the procedure over time and the decisions made regarding the shape of PB in 2020 indicate a relatively strong impact of the pandemic on the implementation of PB in the studied cities. Changes in the scope of schedules, reduction in the pool of funds, changes in the scope of consultation processes, or changes in the proper voting methods constitute apparent consequences of the pandemic's impact on the PB processes. Practical Implications: The research shows that earlier implementation of remote voting and the strengthening of the inhabitants' belief in the importance of PB can undoubtedly have a significant impact on the strengthening of PB processes. Also, the ability of citizens and municipalities to use new technologies both in designing PBs and voting will be essential to strengthen the PB process in crisis times. Originality/value: The analysis carried out indicates some of the problems in implementing (mandatory) PB processes under crisis conditions. It, therefore, provides an opportunity for discussion regarding the purposefulness and optimal scope of introducing legal regulations concerning PB while indicating the potential threats associated with this.

HOW PRIVATE, PUBLIC, AND NONPROFIT LEADERS CAN AMPLIFY THEIR IMPACT BY ADOPTING CROSS‐SECTOR TOOLS

AbstractThe author writes from her perspective as CEO and co‐founder of Social Finance, an impact investing and advisory nonprofit. In discussing partnerships created there, she writes that “the more we collaborated with investors, service providers, governments, and others, the more I saw that everyone brought something unique and vital to the work—points of view and practices that not only oriented us toward a single goal but also better equipped each of us to achieve it.” She explains what private sector, public sector, and nonprofit leaders can do to help achieve this synergy. Within the private sector, she suggests that leaders “can adopt a few of the qualities that have helped their peers in government and the nonprofit sector achieve success: community, empathy, and service‐mindedness.” In the public sector, she believes that “despite vast funding pools and massive distribution networks, local, state, and federal administrations have long struggled to efficiently and purposefully put taxpayer dollars into programs that generate positive social outcomes.” And “this vision is well within reach for nonprofit leaders who are prepared to leverage some of the tools private sector companies have long used to build robust and enduring business models, and cultivate new revenue sources.”

Cooperative for Sustainable Peace-Building and Survival Strategy of Post COVID-19 in Nigeria

This study underscored the avalanche opportunity of range of cooperative principles intrinsic in sustainable peace-building and survival strategy of post covid-19 in Nigeria, which has not been the focus of any study. Data for the study were collected through simple random sampling technique in which 216 cooperatives were randomly selected and questionnaire were filled and returned. Using mean rating of 5-piont Likert scale analysis and a theoretical mean value of 3.0 was taken as a criterion to judge. The One-sample t-test result revealed that avalanche opportunity of rage of cooperative principles assist cooperatives on effective peace-building and survival strategy of post covid-19 in Nigeria. This revealed that cooperative governance is more open and democratic, keeping the capital in the local community, member motivations is a key driver of future participations, there is focusing of fairness for those who are most disadvantaged, desire for reward and self-advancement and equitable distribution of dividends based on patronage. The study recommends that cooperatives required pursuing both economic and social objectives for peace-building and survival strategy of post covid-19 in Nigeria. Cooperatives should provide a pool of funds from which disadvantaged members take loans and ensuring that members receive the lowest prices. Also, cooperative should generate returns that could be shared as dividends based on patronage to members periodically.

Sow what you sell: strategies for integrating organic breeding and seed production into value chain partnerships

ABSTRACT The development of an independent organic breeding and seed sector poses a significant challenge for organic agriculture in Europe. It should deliver cultivars suitable to the principles and conditions of organic farming and secure the integrity of future product supply. This study seeks to identify promising pathways to address this challenge by analyzing value chain organization. It is based on a mixed method approach combining the assessment of qualitative data from a stakeholder dialogue with an analysis of quantitative farm survey data. The results from the stakeholder dialogue show that a value chain partnership is a promising strategy to distribute the burden for refinancing breeding, as the whole organic sector would profit from organic breeding. A cross-sector pool funding strategy is proposed for joining forces among all value chain partners of the organic sector to invest in organic breeding and collectively secure the integrity of the future organic product supply. Four success factors have been identified: a long-term commitment, a pool fund for organic cultivar development, awareness-raising on the importance of breeding, and a high level of transparency in the process. The funding strategy is backed up by findings on market channels. Farmers who market their products through long value chains use less organic seed than those marketing through short value chains. This highlights the need to better integrate long organic value chains such as processors, traders, and retailers, and seed supply. Regardless of the marketing channel, farmers consider the development of organic breeding a vital measure to achieve higher organic seed use. This indicates that overcoming organic seed shortage is more likely to be achieved when also including breeding activities.

Ecological and Economic Context of Managing Enterprises That Are Particularly Harmful to the Environment and the Well-Being of Society

The ecological and economic context determine the management goals of a modern enterprise, which are in line with the growing concern about the well-being of society caused by the effects of enterprises’ activities that are particularly harmful to the environment. This increases the need to search for new tools that will have the capacity to generate information supporting the decision-making process in the area of enterprise management in terms of ecological, economic, and social goals. For these reasons, synthetic measures of development were constructed on the basis of the set of diagnostic variables describing various aspects of sustainable development in the case. Based on the environmental synthetic indicators, it has been possible to point out the Polish voivodeships, in which enterprises that are particularly harmful to the environment were able to reduce the emissions of dust and gaseous pollutants in the 2005–2019 period. These changes were often accompanied by an increase in the production of energy from renewable sources and increasing the supply of plants with devices to contain gaseous and dust pollutants. Moreover, the comparison of positioning the voivodeships in the rankings according to social, economic, and environmental synthetic measures shows that the reduction of the negative impact of energy-intensive enterprises on the environment has been associated with higher the position of the voivodeship in the ranking connected with the health of its inhabitants. It has been also seen that the largest pool of funds was allocated to the voivodeships that need them the most, as these voivodeships were low in the ranking with respect to the degree of the reduction of dust and gaseous emissions by enterprises that are particularly harmful to the environment. The results for regression analysis indicated at the existence of the inter-temporal relationships between the well-being of society and the environmental–economic effects of enterprises’ activities. It was noticed that increasing the possibilities of financing investments in low-emission development of the region, including the modernization of enterprises in terms of decreasing dust and gaseous pollutant emissions and reducing their energy consumption, has a significant impact on the improvement of well-being of society with a one-year lag. In contrast to other studies that mainly refer to the environmental and economic effects of managing enterprises that are particularly harmful to the environment, this paper focuses on the social aspect of the change in the health of the population connected with the emissions of pollutants. A novel approach based on the set of three multi-criteria synthetic measures is proposed to assess the environmental, economic, and social activities of enterprises in individual voivodeships in Poland in the long 2005–2019 period.

The precarious position of wildlife conservation funding in the United States

ABSTRACT The Pittman-Robertson Act was established in 1937 to fund state-based wildlife conservation through an existing excise tax on sporting arms and ammunition. Because these items were purchased mostly by hunters at the time, they were the user group primarily funding wildlife conservation. Subsequent amendments to Pittman-Robertson expanded the taxable items to include pistols, revolvers, and archery equipment, effectively broadening the pool of conservation funding contributors to include non-hunters. The continuing trends of declining hunting participation, increasing handgun sales for non-hunting purposes, and increasing sport shooting and target archery independent of hunting, mean that non-hunters are contributing a disproportionately greater amount to Pittman-Robertson funding than hunters, and therefore contributing more to wildlife conservation. The evolving sources of revenue to Pittman-Robertson pose several threats to this historically important source of conservation funding. Addressing them may require new funding coalitions and outreach describing the conservation benefits and outcomes of Pittman-Robertson funding.

United States and Canada Transboundary Oil Spill Liability and Compensation Regimes: An Overview

Abstract # —1141278 — In 2018, the Canadian government purchased the Trans Mountain pipeline, running from Alberta to British Columbia, along with the plans for expansion. The expansion could triple the transport capacity from 300,000 to 890,000 barrels of oil per day, and would increase the tanker traffic in the inland waterways of the Salish Sea, an area known for its sensitive marine habitat, and narrow, difficult to navigate passages. The anticipated increase in tanker traffic in this busy waterway continues to raise concerns about the impact of an oil spill and the financial means to address related injuries, particularly to natural resources. The transboundary nature of any spill further complicates the situation vis-à-vis the applicable liability regimes and response resources. Under the Canada-United States Joint Marine Contingency Plan (“JCP”), the United States Coast Guard and Canadian Coast Guard acknowledge each country's responsibility to fund their own response actions and pursue reimbursement of those costs within their respective jurisdictions. The availability of funding for a response, and to compensate injured parties, however, including the limits of liability of the responsible party, differs under each regime, and could impact the nature and scope of a response. For spills into or posing a substantial threat to the navigable waters of the United States, the Oil Pollution Act of 1990 governs and a national fund, the Oil Spill Liability Trust Fund (“OSLTF”), is immediately available to address an incident, including emergency restoration to natural resources. Canada's Marine Liability Act enables the Ship-source Oil Pollution Fund (“SOPF”) to pay claimants who have incurred damages as a result of oil pollution. Both countries' funds operate under the same principal—the polluter pays—but the compensation structure, and claims processes and procedures are entirely different. This paper provides an overview of these funding sources and claims procedures, comparing and contrasting the different systems. The discussion is meant to provide an overall understanding of potential funding pools available for spill responses under each scheme in order to facilitate transboundary spill planning and discussion.

Banks’ liquidity management dynamics: evidence from Indonesia

PurposeThis study aims to cover an important yet largely under-explored topic: the dynamic process of bank liquidity management in a vast developing economy by considering pool of funds hypothesis, signaling hypothesis and risk management hypothesis.Design/methodology/approachThe authors apply the dynamic common correlated effect (DCCE) method with an error correction model format to a long panel datasets of 84 Indonesian banks from January 2003 to August 2019, resulting in 16,800 observations.FindingsThe authors obtain convincing evidence of dynamic liquidity management with an error correction mechanism. The time needed to adjust to a liquidity shock ranges from 2.5 to 3.5 months. The empirical results strongly support the pool of funds and signaling hypotheses, whereas risk management motive appears to have secondary importance.Practical implicationsThe regulator should also encourage banks to diversify liquidity management to include interbank money market and off-balance-sheet instruments. The current condition shows that bank liquidity management is strongly correlated with intermediation dynamics and thus is contracyclical. Banks could end up with tight liquidity in a booming economy, which would pose a severe risk to their financial standing.Originality/valueTo authors’ knowledge, this study is the first to analyze bank liquidity management behavior empirically using a panel error correction mechanism. Here, the authors also try to combine a practitioner perspective with a scientific one.

Capital Intensive Clean Energy Projects: Some Costs, Benefits and Challenges of Using Public-Private Partnerships

Geothermal and hydropower projects tend to be capital intensive and with long repayment periods. These projects can be challenging, especially in developing and emerging countries in transition often characterized by changing and unpredictable political and business environments. Developing and emerging countries are eligible for support from international financial institutions (IFIs) such as the World Bank Group and regional development banks and can also receive assistance from bilateral donor institutions. PPPs enable pooling of public, private and donor funds for clean energy investment. A well designed PPP can be a venue for scaling up funding for clean energy investment internationally. However, little point exists in forming PPPs if, for example, the private sector partner captures most or all the benefits, or if the government keeps changing the rules of the game resulting in a non-viable project. The focus of this article is on PPPs, potential benefits and challenges for host governments and various partners, including the private sector, bilateral donors, and multilateral institutions such as IFIs. When disputes occur between the private sector and host governments, IFIs can potentially play an important role in resolving disputes and help ensure the fair sharing of the risks and the rewards of the PPP for all the parties involved. The objective of this article is to review some recent theoretical research recently done on PPP, potential benefits as well as some challenges using this model in developing and emerging countries.KEYWORDS: hydro- and geothermal energy projects, public-private partnerships, international and national financial institutions.